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May 23 - 08:55 PM

EUR/USD - Opens Higher After EUR Leased The USD Lower

By John Noonan  —  May 23 - 07:30 PM
  • EUR/USD opens +1.17% after outperforming in broad USD weakness

  • Hawkish ECB comments and stronger German IFO improved EUR sentiment nL5N2XF1OAnL5N2XF1JC

  • EUR/USD closed above the May 5 high at 1.0642 and capped at 1.0697

  • Key fibo resistance is at the 38.2 of the 1.1495/1.0349 move at 1.0786

  • The 1.0785/90 resistance is fortified by the 55-day MA at 1.0787

  • Support is at the 21-day MA at 1.0540 and 10-day MA at 1.0528

  • Bias is bullish as ECB and Fed expectations converge

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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